Homeowners, Property Tax & Repairs · Surprise rank #182
NYC Homeowner Under $110,750? PT AID Can Defer Property Taxes and Charge Just 2.5% Interest
NYC's Property Tax and Interest Deferral program offers income-qualified homeowners several payment-plan options that can defer part of current or overdue property taxes.
Who
Qualifying owners of a Class 1 property or condominium who have used the property as their primary residence for at least one year and meet current income and equity rules.
Where: New York City
What to do
Start here: Compare the Low-Income Senior, Fixed-Term Income-Based and Extenuating Circumstances plans on the DOF page and submit the PT AID application with required income/property documentation.
Eligibility: Current NYC DOF guidance lists maximum federal adjusted gross income of $110,750. The program also applies property type, primary-residence and equity limits.
What you get
PT AID can cap current property-tax payments under several formulas and defer the remaining eligible amount.
Benefit: Deferred property-tax payments under the chosen plan, with eligible deferred balances currently charged 2.5% interest.
Possible value: Depends on property taxes, income and the chosen PT AID plan.
Good to know
Important: PT AID defers taxes; it does not forgive them. Deferred balances become a lien and the amount that can be deferred is limited by property equity.
Availability: Active
Why people miss it: Homeowners behind on taxes may focus on lien-sale risk and never see the separate income-based deferral plans.
Sources reviewed: Aug 10, 2026